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> Europe has repeatedly tried to soak the rich, and the results are always the same: the rich move their wealth somewhere else and you end up breaking even or e
by stock_toaster 1y ago
> Europe has repeatedly tried to soak the rich, and the results are always the same: the rich move their wealth somewhere else and you end up breaking even or even reducing your tax revenue.
Why can't they tax something that _cant_ be moved elsewhere, like property ownership?
- ethbr1 1y ago> Why can't they tax something that _cant_ be moved elsewhere, like property ownership? 1. Because any tax has to be politically palatable to voters, so therefore needs to exclusively target non-voters. 2. Because even if the above is satisfied, there are a large number of voters whose livelihoods are catering to non-voters.
- pas 1y agoSpain does that but in general the US tax rate on the middle class is low compared to Europe